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Oracle bloodbath continues

https://x.com/thejobchick

"Oracle Layoffs are intense.

  • Entire orgs are getting blindsided.

Cloud, Comms/Marketing, Engineering, Ops, Sales
Directors, ICs, even SVPs - all levels.

Remote and in-office. Top performers. Doesn’t matter.
People with 7, 13, 18, 20+ years at Oracle… gone!!

I was told- If you got the email for saying 'Project Updates' - that’s the bait.

You join the call.
An HR rep read a statement.
Access cut within 5 minutes.
Laptop wiped. That’s it.

  • Some management didn’t even know.
  • RIF decisions weren’t made by your manager.
  • Not even your manager’s manager.

People found out their reports were laid off AFTER the fact... then they got cut next.

SaaS execs were reportedly told:
“Cut 10–12% of workforce by end of year.”

And yes, I'm being told some H-1B workers are being impacted as well.

This morning:

  • SVPs laid off
  • Longtime employees ghosted by leadership
  • 1/3 of some teams already gone"

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Other posts say Oracle Bangalore employees are working 1-2 hours daily and VPs visit the office 1 day a week only. True?

Oracle stock down almost $20 in the last week.

#Layoff #CSuiteChange #Cuts #StockPrice #News

Stock Price will rule the day.....

Friends, Our CFO " AKA the Iceman" sees layoffs like brushing the teeth - it's a regular activity ??

OK, not sure I get the similarity, but good for him that he does.

As all of you knows our stock price has been falling. In the last 3 months the stock drop (about 12%) has erased more than 37 BILLION Dollars of value. This equates to more than an entire year of Gross Revenue.

I'd say this is a problem. actually a "big problem"

So what does everyone think the Iceman will do to attempt to bolster such a loss ( and of course to protect the Ex Board jobs). Yes. you got it. Layoffs will be coming to SAP - especially all of those high cost areas. The rest of the way they will try and "buy" their way out of the downward spiral and buy some acquisition with the hope it will divert investor focus on SAP performance.

Q4/Q1 will not be happy times here.

#Layoffs #Acquisition #StockPrice